The first step in setting up a company is to decide on the legal structure of your business. There are many different options to consider, and choosing the right one is essential to ensuring your business operates legally and within the US tax, labor and economic framework.
For example, if you want to separate your personal assets from the liabilities of your company, you should consider creating a corporation or limited liability company (LLC). These structures create a separation between your assets and the assets of your business, and they also offer several tax advantages.
Once you’ve decided on a business structure, the next step in setting up a company is to register your business name with your state (if required). You should also obtain a registered agent for your business, which is a person or entity that will receive service of process notices, government correspondence and compliance-related documents on behalf of your corporation.
You can find a list of registered agents in your state by visiting the Secretary of State’s website. Then, file your articles of incorporation with the appropriate state agency. Articles of incorporation are the official documents that establish your corporation as a distinct business entity. They typically contain your corporation’s name, purpose and authorized share capital.
Once your articles of incorporation are processed by the state, draft corporate bylaws, which are rules and regulations that determine how your corporation will operate. Your bylaws should clearly outline how your shareholders, directors and officers will split control of the corporation and manage it on a day-to-day basis. set up a company